Markets may open flat on mixed global cues

Asian cues are mixed with major markets closed on account of a holiday

Markets are likely to open flat on Thursday amid mixed global cues.

At 8:35am, the early indicator SGX Nifty was up 13 points at 8,296

Foreign institutional investors were net buyers in equities to the tune of Rs 529 crore on Wednesday, as per provisional stock exchange data.

GLOBAL MARKETS

Asian shares were trading mixed with some of the major regions such as Hong Kong and China closed on account of a holiday. Further, weakness in the US dollar led to gains in commodities. Shares in Japan fell the most on the back of a stronger yen with the Nikkei down nearly 1% while Singapore's Straits Times was up 0.7%.

US stocks continued their winning streak on Wednesday with the Dow Jones industrial average rising for the third straight day to end above 18,000 led by energy shares after crude oil prices stayed above $50/barrel mark. The Dow Jones industrial average ended up 0.4% at 18,005, the broader S&P 500 ended up 0.3% at 2,119 and the Nasdaq ended up 0.3% at 4,975.


STOCKS IN FOCUS

Wipro may see some gains after the IT major announced that it has partnered with Authentise to offer Additive Manufacturing Services.

Yes Bank may see some action after the private lender said it will spend Rs 250 crore towards livelihood and water security and environment sustainability over four years.

Infosys may see some weakness after the management said that compensation increase and higher visa fees could impact margins in the first quarter of the current fiscal.

Lupin may see some pressure after the pharma major's US arm Lupin Pharmaceuticals Inc  is recalling over 54,000 vials of anti-bacterial injection, Ceftriaxone, due to violation of current manufacturing norms.

HCL Technologies could see some action after the IT major announced that it has enhanced its smart vehicle Offerings With two strategic partnerships.